Also See

The recent push for GST is also bound to give a further boost to business optimism.

As per the survey, 59 per cent of the respondents have quoted regulations and red tape as a constraint on growth, which are impacting the growth prospects compared to 64 per cent in the previous quarter.

However, in terms of revenue expectations, India slipped to third position from top in the previous quarter.

In spite of the downturn, India is much ahead of China where only 30 per cent respondents expect an increase in revenue.

quartz

Globally, business optimism stands at net 33 per cent, rising 1 percentage point from the previous quarter but falling 11 percentage points over the year.

Earlier, another survey by AC Nielsen, stated that Indians are the most confident about job prospects, personal finance and immediate spending intentions. India’s consumer confidence index jumped by 5 points to 133 in the third quarter of 2016, reclaiming the top spot on the global index. The confidence of Indians was boosted by good monsoons, controlled inflation, festive season and positive economic outlook.